Life expectancy


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Life expectancy

The length of time that an average person is expected to live, which is used by insurance companies use to make projections of benefit payouts.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Life Expectancy

The length of time the average person is anticipated to continue living. An insurance company may use the "official" life expectancy of a person at a certain age in determining the risk of a life insurance policy or annuity. Likewise, the IRS uses the average life expectancy to determine the required minimum distribution from IRAs. Often, the official life expectancy has only a rough relationship with an individual person's actual life expectancy.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Life expectancy.

Your life expectancy is the age to which you can expect to live. Actuarial tables establish your official life expectancy, which insurance companies use to evaluate the risk they take in selling you life insurance or an annuity contract.

The Internal Revenue Service (IRS) also uses life expectancy to determine the distribution period you must use to calculate minimum required distributions from your retirement savings plans or traditional IRAs.

However, your true life expectancy, based on your lifestyle, family history, and other factors, may be longer or shorter than your official life expectancy.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
In contrast, "Oglala Lakota County, South Dakota - a county that includes the Pine Ridge Native American reservation - revealed the lowest life expectancy in the country in 2014 at 66.8 years, comparable to countries like Sudan (67.2), India (66.9), and Iraq (67.7)," according to (https://www.eurekalert.org/emb_releases/2017-05/ifhm-ggb050417.php) a statement Monday by IHME.
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The top 50 local areas with the highest male life expectancy at birth were in the South-east, East of England, South-west, London and East Midlands only.
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We calculated the racial difference in life expectancy for men and women at the national and state level.
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It shows that male life expectancy ranged from 68.3 years in Birkenhead to 79.9 years in Heswall, and female life expectancy ranged from 75.3 years in Birkenhead to 84.9 years in Bebington.
Currently, the worldwide life expectancy for all people is 64.3 years, but for males it's 62.7 years and for females life expectancy is 66 years, a difference of more than three years.
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In Powys, life expectancy at birth for men has dropped from 80.5 years in 2012-14, to 79.6 years in 2015-17.